Today NFP Analysis Gold sell
Key Observations:
1. Resistance at ~2,912
Price is currently testing a resistance zone around 2,912.
There is a potential rejection from this level, as indicated by the red arrow, suggesting a possible pullback.
2. Support at ~2,880-2,869
A key support level is highlighted around 2,880-2,869.
If price breaks below 2,880, further downside pressure could push it towards 2,860 or lower.
3. Bearish Expectation:
If price struggles to break above 2,912, a double-top or lower high pattern could form, leading to a downward move.
Confirmation of bearish momentum will come if the price falls below 2,880, targeting the 2,860-2,850 range.
4. Bullish Counter-Scenario:
If the price holds above 2,880 and bounces, bulls may attempt to retest 2,912 and beyond.
A break above 2,920 could invalidate the bearish outlook, leading to further upside potential.
1. Resistance at ~2,912
Price is currently testing a resistance zone around 2,912.
There is a potential rejection from this level, as indicated by the red arrow, suggesting a possible pullback.
2. Support at ~2,880-2,869
A key support level is highlighted around 2,880-2,869.
If price breaks below 2,880, further downside pressure could push it towards 2,860 or lower.
3. Bearish Expectation:
If price struggles to break above 2,912, a double-top or lower high pattern could form, leading to a downward move.
Confirmation of bearish momentum will come if the price falls below 2,880, targeting the 2,860-2,850 range.
4. Bullish Counter-Scenario:
If the price holds above 2,880 and bounces, bulls may attempt to retest 2,912 and beyond.
A break above 2,920 could invalidate the bearish outlook, leading to further upside potential.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade XAU/USD with expert signals Join World Expert Trading for reliable, profitable Gold trading insights Start now [t.me/WorldExpertTrading1]
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.